THE Australian sharemarket has built on early gains, shrugging off falls on Wall Street after the Federal Reserve confirmed it would end its asset-buying program, and despite official data showing Australian terms of deteriorated in the September quarter.
In economic news, the Australian Bureau of Statistics released data showing both export and import prices had slipped in the September quarter, with the latter falling four times faster than analysts had expected.
HIA also released its house sales data for September, which showed seasonally adjusted house sales fell by 2.3 per cent during the month to be down by 6.5 per cent over the September quarter
atm ........ XJO up .40% XFJ up .70% XHJ up .64% XMJ off .35%
End of QE3 Means Fed Statement Finally Shrinks
The end of QE3 may signal a watershed moment in Federal Reserve communications: The Federal Open Market Committee’s statement is finally getting shorter. Today’s 707-word statement was the shortest in more than a year, and 188 words shorter than the statement in September.....
